On December 1, 2017, Sheehan, Inc sold machinery to a customer for $2,000
Sheehan regularly sells machinery. The customer could not pay at the time of sale but agreed to pay 9 months later and signed a 9-month note at 12% interest. Prepare the journal entry to record the revenue at the time of sale. Ignore the entry for cost of goods sold.
What will be an ideal response
Notes Receivable 2,000
Sales Revenue 2,000
Business